Dhaka Bank’s Q1 profit highest in 4 years

Dhaka Bank attained a 26 percent year-on-year rise in profit in the first quarter of this year amounting to Tk 76.5 crore, the highest in four years, attributing it to an increase in operating income.

The commercial private lender made a profit of Tk 60.39 crore in the corresponding period of last year.

The bank's earnings per share hit Tk 0.76 in the January-March period of 2024, up from Tk 0.6 in the same period previous year, according to unaudited financial statements released recently.

However, its net operating cash flow per share stood at Tk 7.5 in the negative in this year's first three months, which was Tk 7.74 in the same period in 2023.

Rising disbursements of loans and declining deposits led to this fall, said the bank in a disclosure.

Dhaka Bank began its commercial operation in 1995 with an authorised capital of Tk 100 crore and a paid-up capital of Tk 10 crore.

The bank has 114 branches, including two Islamic banking ones, two offshore banking units, three SME service centres, 26 sub-branches and 87 ATMs across the country.